The jackpot for the Powerball draw on Sat Nov 30, 2024, is projected to be $214 Million, with an option for a cash payout of $99 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New York residents, the state will deduct 8.82% from your lottery earnings.
| New York Powerball Jackpot/Cash Option for Sat Nov 30, 2024 |
|---|
| Draw Date | Sat Nov 30, 2024 | | Projected Jackpot | $214,000,000 | | Cash Value | $99,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $99,000,000 | | Federal Tax(24%) | $23,760,000 | | Additional Federal Tax | $12,830,330 | | State Tax(8.82%) | $8,731,800 | | Net Lumpsum Payment | $53,677,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,220,914 |
$1,152,069
$284,085 |
$1,784,760 |
| 2 |
$3,382,056 |
$1,211,691
$298,297 |
$1,872,068 |
| 3 |
$3,551,116 |
$1,274,243
$313,208 |
$1,963,665 |
| 4 |
$3,728,736 |
$1,339,963
$328,875 |
$2,059,898 |
| 5 |
$3,915,130 |
$1,408,928
$345,314 |
$2,160,888 |
| 6 |
$4,110,940 |
$1,481,378
$362,585 |
$2,266,977 |
| 7 |
$4,316,380 |
$1,557,391
$380,705 |
$2,378,284 |
| 8 |
$4,532,306 |
$1,637,284
$399,749 |
$2,495,273 |
| 9 |
$4,758,932 |
$1,721,135
$419,738 |
$2,618,059 |
| 10 |
$4,996,900 |
$1,809,183
$440,727 |
$2,746,990 |
| 11 |
$5,246,638 |
$1,901,586
$462,753 |
$2,882,299 |
| 12 |
$5,509,002 |
$1,998,661
$485,894 |
$3,024,447 |
| 13 |
$5,784,420 |
$2,100,566
$510,186 |
$3,173,668 |
| 14 |
$6,073,748 |
$2,207,617
$535,705 |
$3,330,426 |
| 15 |
$6,377,414 |
$2,319,974
$562,488 |
$3,494,952 |
| 16 |
$6,696,274 |
$2,437,952
$590,611 |
$3,667,711 |
| 17 |
$7,030,970 |
$2,561,789
$620,132 |
$3,849,049 |
| 18 |
$7,382,572 |
$2,691,882
$651,143 |
$4,039,547 |
| 19 |
$7,751,722 |
$2,828,468
$683,702 |
$4,239,552 |
| 20 |
$8,139,276 |
$2,971,863
$717,884 |
$4,449,529 |
| 21 |
$8,546,304 |
$3,122,463
$753,784 |
$4,670,057 |
| 22 |
$8,973,662 |
$3,280,585
$791,477 |
$4,901,600 |
| 23 |
$9,422,206 |
$3,446,547
$831,039 |
$5,144,620 |
| 24 |
$9,893,434 |
$3,620,901
$872,601 |
$5,399,932 |
| 25 |
$10,387,988 |
$3,803,886
$916,221 |
$5,667,881 |
| 26 |
$10,907,580 |
$3,996,135
$962,049 |
$5,949,396 |
| 27 |
$11,452,852 |
$4,197,886
$1,010,142 |
$6,244,824 |
| 28 |
$12,025,516 |
$4,409,771
$1,060,651 |
$6,555,094 |
| 29 |
$12,626,856 |
$4,632,267
$1,113,689 |
$6,880,900 |
| 30 |
$13,258,156 |
$4,865,848
$1,169,369 |
$7,222,939 |
|
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